XCMG Made More than CNY 3.6 Bn Profit in H1 2021, Hitting Historical High

Industrials Author: Fuller Wang Jul 02, 2021 06:00 AM (GMT+8)

The leading construction machinery company is increasing research investment to accelerate and improve intelligent manufacturing technology.

excavating machinery

On June 30, 2021, XCMG disclosed its semi-annual performance forecast. According to the disclosed data, the company's profit will be between CNY 3.6 billion and CNY 4.2 billion, with a year-on-year growth rate of 74.61% to 103.71%. Since 2021, the prosperity of the construction machinery industry has continued to improve due to the demand for equipment renewal and the upgrading of environmental protection emission standards.

According to the first quarter report of this year, the net profit of XCMG machinery reached a new high and reached CNY 1.73 billion, up 182.4%. Its revenue also maintained a high growth rate – CNY 24.98 billion, up 80.40% year-over-year. The basic earnings per share reached CNY 0.22.

In the stock market, since the beginning of this year, the share price of XCMG has risen by over 18%, achieving a market value of over 50 billion. According to the company, it has increased research investment to improve the level of intelligent manufacturing continuously and is expected to maintain high growth in the second half of 2021.